Growth Momentum Projected to Accelerate for Global Styrene Butadiene Latex Market
The styrene butadiene latex market is fragmented, and the degree of fragmentation is expected to decrease by 2023.
The global styrene butadiene latex market is forecast to grow at a CAGR of almost 2% from 2018-2023, according to a recent report from Technavio, and the market size will increase by 88.8 thousand tons from 2019-2023. Between 2018-2023, the styrene butadiene latex market will grow at a faster pace than the overall market growth in 2019. The growth momentum of the styrene butadiene latex market is expected to accelerate in the second half of the forecast period compared to the increase in the first half.
The styrene butadiene latex market is fragmented, and the degree of fragmentation is expected to decrease by 2023. An outlook of accelerating growth would provide opportunities to all market participants to grow. Market participants should focus on the opportunities on the demand side rather than getting overly impacted with the competitive dynamics. The accelerating growth momentum will be one of the contributing factors moderating the competitive intensity in the market over the forecast period.